How to get COVID grants of $ 5,000 to $ 25,000 for small businesses in LA County – Daily News
LOS ANGELES – Los Angeles County small businesses seeking financial relief from COVID-19 have until the end of this month to apply for grants of $ 5,000 to $ 25,000 from a fund regional which opened a new round of funding on Monday.
Applications are now open until Friday for the penultimate round of aid under LA’s $ 100 million COVID-19 Regional Stimulus Fund. A final round will open on October 26 to give businesses an extra chance to ask for help.
The fund, which was launched on July 6, has provided around $ 3.2 million in grants to more than 300 local micro-entrepreneurs, small businesses and nonprofits affected by the pandemic, according to the development organization. community that manages the money. How the fund will redeploy the dollars in the absence of more eligible applicants was not immediately clear.
Local Initiatives Support Corporation Los Angeles was chosen by the county to provide dollars to many companies that remained federal assistance programs, sometimes due to financial, technical, or cultural barriers.
“Our small businesses and nonprofits are under tremendous strain right now, with some on the verge of collapse due to the pandemic,” LISC LA Director Tunua Thrash-Ntuk said. “It is unfortunately not surprising that many businesses unable to access the financial support they need are owned by entrepreneurs of color who face cultural, technical and / or other barriers to entry.
“The LA COVID Fund is working to close this gap and is a step in the right direction in equity in grantmaking,” said Thrash-Ntuk. “The LISC LA team takes pride in doing what we do best: providing capital and resources to those who need them most. “
LISC is running a bilingual digital advertising and grassroots awareness campaign designed to reach those hardest hit by the pandemic, the director said.
Grant recipients are chosen through a random application system, although some applicants are given priority weighting, including small, veteran-owned businesses and businesses in cities and counties that have higher unemployment rates, a higher unemployment rate. lower education, lower median household income and lower population-rate jobs.
Olasteo, a student-centric nonprofit serving the Watts community, has received a grant to keep its doors open despite COVID-19. The two co-founders of Olasteo, working with a handful of volunteers, offer experiential programs and educational opportunities to empower students.
“While we will continue our fundraising efforts to be able to continue our programming, this grant will help us ensure that we can run our summer program remotely and add a fall program,” said co-founder Aaron Friedman.
Another grant recipient is El Arte Barbershop, a family-owned establishment that has served the South Los Angeles community for over 40 years. The pandemic has put owner Roberto Sanchez in danger of being evicted. Instead, he was able to upgrade equipment, make repairs and ensure his business was up to new COVID-19 safety standards in preparation for reopening.
“Over the decades, we’ve been a staple of the community,” Sanchez said. “I want to express my deep gratitude for this help. My livelihood was threatened and the grant minimized that risk.
Even concert workers and street vendors can apply for loans of up to $ 5,000, provided they have an income tax return proving their annual income is less than $ 100,000.
Eligibility is tied to income limits and, in the case of nonprofits, includes a requirement that the programs serve low- or moderate-income communities.
Interested companies can check the eligibility conditions and apply to www.lacovidfund.org.